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| 200 Southeast First building, Downtown Miami, FL |
MIAMI, FL – Institutional
Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing
in serving institutional and major private real estate investors, is pleased to
announce it has obtained the exclusive listing for the 200 Southeast First Building, a 12-story, Class A office building
with ground-floor retail in the heart of Miami’s downtown business district.
The asset is listed for $38,000,000.
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| Douglas K. Mandel |
IPA senior director Douglas K. Mandel and IPA director Benjamin H. Silver are representing the
seller, a Miami-based real estate company.
“With its high-class
finishes, unmatched location and amenities, plus an immense level of value-add
upside potential through lease-up and rent escalation, the 200 Southeast First
Building is poised to take advantage of the explosive growth happening in
downtown Miami,” says Silver.
“The property’s rental
rates are approximately half of those of similar-class buildings on Brickell
Avenue.
"Also, the property just underwent a multi-million-dollar renovation
that included a new exterior façade and signage, lobby upgrades, elevator and
corridor finishes, new digital security cameras and access control with
card-swipe entry, a new fire and life safety panel and a new HVAC chiller.”
The 200 Southeast 1st
Street Building is located just a few blocks from Brickell Avenue on the north
of the end of the Interstate 95 downtown interchange in the heart of Miami’s
downtown business district.
The full-service,
first-class building offers 141,682 rentable square feet at the epicenter of
the city’s booming construction and redevelopment area and is surrounded by
cafés, restaurants, shops, hotels and other amenities.
For a complete copy of the company’s news release,
please contact:
Gina Relva, Public
Relations Manager
(925) 953-1716
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